Access to Expats bank account tied to ‘residency’; Expiry could trigger freeze – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
- Date: 20-Apr-2023
- Source: Arab Times Kuwait
- Sector:Financial Services
- Country:Kuwait
Access to Expats bank account tied to ‘residency’; Expiry could trigger freeze – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
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KUWAIT CITY, April 19: According to informed sources, local banks have been restricting expatriates from accessing their money in their bank accounts as soon as their residency permit expires. This restriction includes withdrawal of salary or a deposit, reports Al-Rai daily. They explained that the local banks apply this procedure not only to their expatriate customers whose cards had expired for a long time, but even to those with the newly expired cards.
The restriction begins from the first day of expiry of the residency permit. This procedure is also applied to their Bedoun customers. The point of view of these banks is that they opened the bank account for their customer based on the fact that he holds the legal capacity of a valid resident of Kuwait. In the event that the civil ID card expires, he becomes an illegal resident.
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